Miracle Mile Advisors LLC Invests $757,000 in Sony Group Co. (NYSE:SONY)

Miracle Mile Advisors LLC bought a new stake in shares of Sony Group Co. (NYSE:SONY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 35,752 shares of the company’s stock, valued at approximately $757,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. General Partner Inc. grew its position in shares of Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after acquiring an additional 996 shares during the period. Hilltop National Bank grew its holdings in Sony Group by 346.3% during the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock valued at $32,000 after purchasing an additional 1,174 shares during the period. Rise Advisors LLC increased its position in Sony Group by 399.1% in the fourth quarter. Rise Advisors LLC now owns 1,747 shares of the company’s stock worth $37,000 after buying an additional 1,397 shares in the last quarter. Founders Capital Management raised its stake in shares of Sony Group by 400.0% in the fourth quarter. Founders Capital Management now owns 2,005 shares of the company’s stock worth $42,000 after buying an additional 1,604 shares during the period. Finally, Versant Capital Management Inc purchased a new position in shares of Sony Group during the 4th quarter valued at about $46,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Trading Up 3.0 %

Shares of SONY opened at $20.47 on Thursday. The firm has a market cap of $123.80 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 13.74 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $22.71. The company has a 50 day simple moving average of $20.34 and a two-hundred day simple moving average of $12.33.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. TD Cowen decreased their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Oppenheimer lowered their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Daiwa America upgraded Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $24.00.

About Sony Group

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.